*Well first of all its a tech share but a Value Tech Share and produces financial software mainly for the Banking Industry.
*For years it as given out profit warnings and bad trading statements, thats all now changed and business is looking positive very positive.

*It has a market cap of 11 million, and its got cash of circa 6.7 million about 1.7 million will be spent on restructuring, so that leaves us with around net cash of say 5 million.

*It has an excelent management team, with Roger Foster of ACT the chairman and Paul Fulacre as non exec he was the chairman and founder of Staffware which has been sold recently for a massive sum. Together they hold around 25% of the company, so they are putting their faith in the growth of the company.

*The company is forward thinking and as spent around 22 miilion cumulatively on R@D on their new products.

*The order book more or less supports annual turnover, the order book being in the region of 8 million the annual sales being approx 10 million.

Summing up we are looking at a busines with a market cap of 11 million, as we have net cash of 5 million on the books if you bought the shares you would be basically paying 6 milion for the business and for that you get 10 million worth of annual sales an order book that supports that, excelent spending on R@D of around 22 million, an excelent and proven management team and a company that is about to break even and move into profit.

I feel this company is massively undervalued and I see a lot of upside from here.

Medium term Recomendation.

DYOR, you are responsible for the timing of your buying and selling actions.

cheers Gf.

Certainly worth considering apple, I note mark slater is in this one and more or less says it could double or treble possibly from here.

cheers GF.

GF

How did you know mark slater is in it?

apple,

Citywire reported on 7 April that Slater had taken a 4.2% stake in FIO for his Mark Slater Recovery Fund.

Goldfinger,

funnily enough I have thought that you and Slater on sharecrazy are the same person. Am I right? Do you know what else Mark Slater has in his recovery fund? Can we find this information?

angi

Hi Angi apple JJ50,

Shrewd Snapshot: Communisis and Financial Objects in favour

Published: 07:03 Wed 9 June 2004
By Algernon Craig Hall, Secret Buying Correspondent
Email to a friend |

Shrewd investors have been attracted by the recovery potential of Communisis and Financial Objects.

* Activist investment firm North Atlantic Value has bought 820,000 shares in printing group Communisis (CMS) to take its holding to 10.5 million or 7.3% of the 148 million.


Tough trading in Communisis's traditional printing business has made life tough for the group. However the company's move into the racier area of print management and a major contract with Barclays provides some hope.


The company is reorganising parts of its business and says there is a healthy pipeline of print management opportunities. It remains cautious on the overall trading climate.


The share closed flat yesterday at 103p.


* AAA-rated fund manager Mark Slater has increased his funds' investments in software minnow Financial Objects.


Slater has lifted the stake held between his MFM Bowland Fund and Slater Recovery fund by 1.85 million shares to 3 million, more than 10% of the 11.6 million company (FIO).


The group has been badly hit by dire conditions in the banking software market.


However, management has cut costs and reorganised the group including moving software development to India. Coupled with improved market conditions these actions could be set to pay off this year.ENDS.

Actually Slater said at a financial gathering that he thought this one would at least double and maybe treble. Food for thought.

cheers GF.

ps, Angi , I KNOW NOTHING. Actually Angi I think the only way of getting the slater fund portfolio is by sending of for those free reports, it should be in amongst the Investment trusts. There should be a link on here somewhere if not try advfn where I am sure there is a free link. cheers GF.

Thanks GF

Thanks Goldfinger, haven't been able to find anything but will keep trying as I reckon this family have the right ideas.

Angi, Ill try and help. Ill have a look first thing in the morning, it was advertised in a few copies of shares Mag was the slater fund. Maybe a word with Ian at admin may help. You know him and hes a very decent bloke he maybe able to help.

cheers GF.

Certainly turning the corner..................

Financial Objects back in the black
MoneyAM
Financial Objects, a supplier of technology banking products and services, said it returned to profitability in the first half despite "difficult" trading conditions.

Profit before tax was 125,000 in the six months to June, compared with a loss of 1.17m a year earlier as revenues fell to 4.6m from 5.7m.

The company said it was not paying an interim dividend after paying 1.0p last year.

"In the context of the ongoing difficult trading conditions, the decision to create a leaner organisation focused on sales partnerships and cost control has resulted in the return to profitability," said chairman Roger Foster. He said the second half will continue to see the group press ahead with its transition to its new business model.

"Once fully implemented, the group will be well positioned to return to a period of revenue growth and improved performance," Foster added. He said the "cornerstones" of the new business model were substantial cost savings.

The establishment of its overseas development centre in Bangalore was a "vitally important" aspect of the cost saving plan, he added. The company expects the number of people employed in Bangalore, currently 40, to continue to increase significantly over the next six to twelve months.


cheers GF.

New contract just gained and more than 12% up on the day.

Quality outs.

cheers GF.

Good news today was a reason for a for a lot of selling into the price rise. That means the price will drift down again from here. I sold my holding today, glad to get out with a small gain. Stocks like this might be good value but I cant be bothered to wait.

Dont think so .

Mark slater is tipping this all over the place this evening. Your sell could have been very premature.

cheers GF.